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Let's Check the Markets!
OKC West is our Market Links Sponsor- they sell cattle three days a week- Cows on Mondays, Stockers on Tuesday and Feeders on Wednesday- Call 405-262-8800 to learn more.
FedCattleExchange.com has a total of 474 cattle on their showlist for the Wednesday, March 7th sale of finished cattle- details will be available after noon today by clicking here.
Steer calves sold firmly 5.00 higher, while heifer calves
traded steady to 4.00 higher Tuesday compared to last week at OKC West - click or tap here for a look at the March 6th sale results.
Today's First Look:
mornings with cash and futures reviewed- includes where the Cash Cattle market stands, the latest Feeder Cattle Markets Etc.
Each afternoon we are posting a recap of that day's markets as analyzed by Justin Lewis of KIS futures
- click or tap here
for the report posted yesterday afternoon around 3:30 PM.
Okla Cash Grain:
Feeder Cattle Recap:
Slaughter Cattle Recap:
TCFA Feedlot Recap:
Our Oklahoma Farm Report Team!!!!
Ron Hays, Senior Farm Director and Editor
Carson Horn, Associate Farm Director and Editor
Pam Arterburn, Calendar and Template Manager
Dave Lanning, Markets and Production
|Oklahoma's Latest Farm and Ranch News
Your Update from Ron Hays of RON
Wednesday, March 7, 2018
The Purdue/CME Group Ag Economy Barometer moved higher again in February. At 140 points, producer sentiment, which is based on a monthly survey of 400 agricultural producers from across the country, reached its second-highest level in more than two years.
Sentiment is also higher for the second-consecutive month, providing a strong 14-point boost to the index compared to December 2017.
As part of the monthly survey, producers were asked about trade. Farmers indicated they remain optimistic regarding trade but note uncertainty regarding the future of the North American Free Trade Agreement.
Despite that uncertainty, the majority of producers expect exports of agricultural products to increase, or hold steady, over the next five years.
Finally, over two-thirds of producers responding to the February survey expect soybeans to be more profitable in 2018 than corn. However, only ten percent of producers said they plan to increase their soybean acreage compared to last year.
For more on producers' trade expectations and planting intentions, read the full February Ag Economy Barometer report, by clicking over to our website
It's great to have the Livestock Exchange at the Oklahoma National Stockyards as a sponsor for our daily email. The eight Commission firms at the Stockyards make up the exchange- and they are committed to work hard to get you top dollar when you consign your cattle with them. They will present your cattle to the buyers gathered each Monday or Tuesday at one of the largest stocker and feeder cattle auctions in the world.
Click here for a complete list of the Commission firms that make up the Livestock Exchange at the Oklahoma National Stockyards- still the best place to sell your cattle- and at the heart of Stockyards City, where you can go around the corner enjoy a great steak and shop for the very best in western wear.
|Senator Jim Inhofe Working to Provide Farmers Affected by CERCLA Relief - Tips Hat to Pruitt's EPA
I had the chance to visit with Oklahoma's Senior Senator Jim Inhofe yesterday, to catch up on several issues currently playing out in Washington, DC right now. On that list, is an initiative being driven in part by Senator Inhofe himself, to provide some regulatory relief for farmers and ranchers facing new reporting requirements to the Environmental Protection Agency and the US Coast Guard. He spoke to Hays about this measure referred to by its working title, the Farm Act.
"What this is doing is stopping the overreach of regulation that's killing America," Inhofe told me.
As Chairman of the Senate Environment & Public Works committee, Inhofe says the EPA was overregulating Americans during the Obama presidency to the point that our nation's businesses and industries weren't able to be productive at all. This culture, though, is coming to an end and is in fact being completely restructured - an effort being championed by Oklahoma's own Scott Pruitt.
"They are doing things that are just totally turning over the overregulation that was killing the economy in America," Inhofe said, warning listeners not to pay attention to the media's bias. "He's doing a good job. Scott Pruitt is changing things at the EPA, so overregulation is going to be a thing of the past."
Inhofe also remarked on his colleague, Thad Cochran's retirement from the Senate representing the state of Mississippi, calling him a wonderful man but regretted to inform us that the Senator's failing health has prompted him to step down from his position. You can read more about Sen. Cochran's retirement in the following story, below.
To hear my complete conversation with Senator Inhofe about some of these current environmental issues in DC and other political matters, click here.
Seven-term Sen. Thad Cochran of Mississippi, the chairman of the Appropriations Committee and a leading proponent of Southern crops in the Agriculture Committee, announced this week he will resign, effective April 1, due to poor health. His departure will punctuate efforts to draft the 2018 farm bill in the coming weeks and could diminish the South's influence over the legislation.
Cochran chaired the Agriculture Committee in 2003-04 and is the second-ranking member of the panel behind chairman Pat Roberts. Service on the Appropriations and Agriculture committees gave Cochran an unusually large influence on farm and food policy since he had a hand in government funding. Beside his support of cotton, rice and peanuts, Cochran is a backer of food stamps and other federal public nutrition programs.
Gov. Phil Bryant was expected to appoint an interim senator and schedule a vote on a permanent successor as part of the Nov. 6 general elections - meaning both of Mississippi's Senate seats will be contested this year.
"I regret my health has become an ongoing challenge," Cochran said in announcing his decision. He said he intended to oversee the final spending bill for fiscal 2018 before leaving Washington. Read more about Cochran's departure, here.
American Farm Bureau Federation President Zippy Duvall
, issued a statement
Tuesday after the Senator's announcement thanking him for his career-long service to agriculture calling him, "a champion for farmers, ranchers and rural communities in his home state of Mississippi and across the nation."
The National Cotton Council said in their own statement about Cochran, that he was instrumental in the passage last month of legislation that rewrote the cotton program and assured larger subsidies to growers. The insurance-like STAX support created by the 2014 farm law was a flop, according to the industry.
Any action to artificially cap Renewable Identification Number (RIN) prices in exchange for an RVP waiver allowing year-round sale of E15 would be bad deal for rural America and the nation's consumers, according to a new economic analysis released Tuesday. Such a tradeoff would result in reduced ethanol consumption, a drop in corn prices, and an effective cut of 5% to the Renewable Fuel Standard (RFS) conventional renewable fuel requirement, according to the study by the Center for Agricultural and Rural Development (CARD) at Iowa State University.
The CARD analysis comes as President Trump met last week with ethanol and oil industry stakeholders, including members of the Renewable Fuels Association (RFA), to discuss the RFS and RINs. Sen. Ted Cruz has proposed capping RIN prices at 10 cents, potentially in exchange for an RVP waiver for E15.
"The study confirms imposing a price cap on RINs would abrogate the potential benefit of RVP parity for E15. Fundamentally, a RIN price cap and E15 RVP parity work at cross purposes. One is intended to grow demand for biofuels; the other is intended to reduce demand. The net result would be an effective cut to the RFS, lower ethanol production, lower corn prices, and higher consumer gasoline prices," said RFA President and CEO Bob Dinneen. "Here's the bottom line: a RINs price cap would be a lose-lose scenario for America's farmers and consumers, not the win-win Sen. Cruz has promised. If Sen. Cruz is truly concerned about the supply and price of RINs, and not just demand destruction, he should support RVP parity by itself, since it would expand the supply of RINs available for compliance and lower prices."
Click here to review this study's full analysis report or check out a summary list of its final conclusions.
We are pleased to have American Farmers & Ranchers Mutual Insurance Company as a regular sponsor of our daily update. On both the state and national levels, full-time staff members serve as a "watchdog" for family agriculture producers, mutual insurance company members and life company members.
Click here to go to their AFR website to learn more about their efforts to serve rural America!
During the 2018 Commodity Classic in Anaheim, our own Carson Horn had the chance to speak with Phil Seng, former president and chief executive officer for the US Meat Export Federation. Although he is now retired, Seng still engages in contract work from time to time with the USMEF. With hints from the White House in recent days about President Donald Trump's softening on the Trans-Pacific Partnership trade deal that he withdrew from to the dismay of those in agriculture after coming into office, Seng offered his perspective on what rejoining TPP might mean for the beef industry and just how realistic accomplishing that goal might actually be. The word is that Trump might consider rejoining the pact - if the terms were tweaked to benefit the US a bit more. With the deal basically done, though, and a signing ceremony already scheduled for later this week, Seng says playing catch-up at this point may prove impossible.
"Frankly, TPP was ratified on December 9th of 2016 in Japan. As far as the TPP covenants if you will. Now you have 11 countries that are going forward to ratify this which will be done on March 8th of this year, which is very soon," Seng said. "So, it's going to be very difficult, because to change thing od any consequence all 11 of these countries would have to vote to change things. I just don't see that coming because politically, it was so arduous to get to where they are now, to go back and change this. It's just probably not going to be realistic."
Seng believes in being realistic when it comes to trade on what can actually be achieved. Given the complexity of the issue, he says the best thing for the industry right now, is for the US to just rejoin TPP as it exists now. If not, though, the good news is that the US is not completely out of these markets altogether. However, Seng says we will have to work very hard to stay relevant in these countries.
"We have to continue to work with our valued buyers in these markets," he said. "We have partners we've worked with for 30 years, so they know the product. But, again, the competition is very intense. So, what we have to do and all we really can do is rely on doing more promotion and activities to reassure them of our commitment."
Listen to Phil Seng postulate on the reality of rejoining TPP with me, on yesterday's show, tap or click here.
R-CALF USA's attorney, David Muraskin of Public Justice, appeared in the Ninth Circuit Court of Appeals Monday to defend the group's preliminary injunction awarded by the U.S. District Court for the District of Montana, which has temporarily blocked the Montana Beef Council from compelling Montana ranchers to contribute to the state's Checkoff without first obtaining the affirmative consent from the rancher-payees.
Muraskin argued against the idea that the promotional and advertising messages of the Montana Beef Council is government speech. If nothing else, he claims the First Amendment protects Montana ranchers by allowing ranchers to opt out of the checkoff program.
Muraskin alleges that Secretary of Agriculture Sonny Purdue has not managed the operation of the Montana Beef Council to the extent necessary to meet fundamental standards for government speech. Therefore, Muraskin asserted, the Montana Beef Council's speech is private speech subject to the Constitution's protections.
Continue reading this story on our website, by clicking here, to learn more about Muraskin's arguments against the Montana Beef Council and the USDA.
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|USDA Secretary Sonny Perdue Finally Gets His Number Three Man- Swears In Bill Northey Tuesday Evening
U.S. Secretary of Agriculture Sonny Perdue administered the oath of office to Bill Northey on Tuesday evening at the Annual Iowa Ag Leaders Dinner. Until Tuesday, Northey had served as Iowa's Secretary of Agriculture, a position he had held for more than eleven years. Northey will serve as the Under Secretary for Farm and Foreign Agricultural Service (FFAS) at the U.S. Department of Agriculture (USDA)- at least that is the official title he was sworn in for.
However, Northey's job will actually be working under a new job description- which USDA is working with Congress to formalize in the near future. Northey will be overseeing what USDA is calling the Farm Production and Conservation mission area- with the FPAC encompassing the Farm Service Agency, the Natural Resources Conservation Service, and the Risk Management Agency.
Click or tap here to read Secretary Pedue's comments about getting Bill Northey on the job- which officially starts TODAY.
|Are You Ready? OYE Competition Set to Start Thursday Morning
The Purebred Gilts have started arriving at State Fair Park in Oklahoma City for the 2018 Oklahoma Youth Expo- and thousands will continue to arrive today.
By 4 PM today- all Purebred Gilts need to be on the grounds- and 5 PM is the deadline to get checked in.
Tomorrow morning- the first class of Berks will start showing at 8;00 AM- and that will officially kick of the competition that runs all the way to selection of Grand Champion Market Animals next Thursday afternoon, March 15th.
Our coverage now through the Sale of Champions is powered by ITC, your Energy Superhighway.
To help get your battery charged up fo the world's largest junior livestock show- enjoy this video posted by the OYE folks!
|Our thanks to Midwest Farms Shows, P & K Equipment, American Farmers & Ranchers, Livestock Exchange at the Oklahoma National Stockyards, Oklahoma Farm Bureau, Stillwater Milling Company, National Livestock Credit Corporation, Oklahoma AgCredit, the Oklahoma Cattlemens Association and KIS Futures for their support of our daily Farm News Update. For your convenience, we have our sponsors' websites linked here- just click on their name to jump to their website- check their sites out and let these folks know you appreciate the support of this daily email, as their sponsorship helps us keep this arriving in your inbox on a regular basis- at NO Charge!
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